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07
October
2022

Ukraine Reconstruction Fund to be launched by Dec this year – official

KYIV. Oct 7 (Interfax-Ukraine) – The Fund for the Reconstruction of Ukraine will be launched before the beginning of December this year, Deputy Head of the Office of the President Kyrylo Tymoshenko said, speaking online at the "Ukraine During the War. Economy. Security. Energy. Recovery Prospects" conference, which was held in Warsaw (Poland).

To attract financial assistance from foreign governments, agencies and international organizations, it was decided to establish the Ukraine Reconstruction Fund – a financial institution that should become a tool for transparent receipt and effective use of international assistance to restore infrastructure in Ukraine. As Tymoshenko said, the Fund’s transparency will be ensured through as much as possible control by the donor community, because 75% of its supervisory board will be representatives of donors. All of the Fund’s managers will be appointed by donors, and all of its reports will be available to public. "We plan that the Fund will be fully launched late November or early December this year," he said.

Ukraine, according to Tymoshenko, counts on the support of international partners, including the expert community, in restoring the housing and social infrastructure destroyed due to the Russian invasion.

He said that during the 225 days of the full-scale war, 94,596 destroyed infrastructure facilities were recorded in different regions of Ukraine. Of these, more than 25,000 objects in Kyiv region, more than 20,000 in Donetsk region, more than 9,000 objects in Kharkiv region. In particular, more than 74,000 houses were destroyed.

Tymoshenko said that unfortunately, Ukraine really does not have enough financial resources to restore such a volume of destroyed infrastructure.

According to him, now only more than 11,000 objects have been restored at the expense of the state budget, that is, only 13% of what is needed is being repaired, because Ukraine is critically short of financial resources.